Operating Partner, Transportation and Logistics

Fireclay Partners

10d•Hybrid

About The Position

Operating Partners are senior operators who work alongside the Fireclay deal team on the transactions where their domain expertise decides the outcome. This is a per engagement consulting role, not full-time employment. Engagements typically run three to twelve months on a deal specific basis. Fireclay Partners is a veteran owned middle market M&A and buy side advisory firm based in Kansas City. We serve private equity sponsors and family-owned businesses on platform sourcing, bolt on acquisitions, and select sell side mandates. Our model pairs investment banking execution with senior operating expertise, and we bring in industry advisors with deep domain experience to support deal sourcing, due diligence, and sponsor engagement.

Requirements

Division President, General Manager, COO, CEO, VP or SVP of Operations, Chief Commercial Officer, VP of Capacity or Carrier Sales, Chief Credit Officer or Head of Underwriting at a factoring or transportation finance company, or Head of Corporate Development at a sector consolidator
Fifteen years or more in the sector across multiple modes, service lines, or geographies
Working command of the regulatory environment your subsector operates in, including FMCSA operating authority and safety ratings, CSA scores, hours of service and ELD requirements, hazmat and specialized commodity rules, worker classification for owner operators and agents, cargo liability under the Carmack Amendment, and where relevant FMC and ocean transportation intermediary licensing, customs and CBP compliance, and Surface Transportation Board oversight
Direct experience with the operating dynamics that drive value in this sector, including net revenue margin, contract versus spot mix, customer and lane concentration, tractor and trailer utilization, cost per mile, driver and owner operator turnover, carrier procurement and capacity sourcing, advance rates, reserves, dilution, days sales outstanding and credit loss experience, and where a business sits in the freight cycle
Familiarity with the ownership structures common to independent firms in this market, including founder and family owned carriers and brokerages, ESOP owned businesses, agent and owner operator models, carve outs from strategics, and sponsor backed roll ups, and how each affects a transaction, including how equipment and real estate are held relative to the operating company
Existing network of relationships with founders, operating principals, senior executives, and PE professionals across your subsector
Comfort representing Fireclay professionally to PE sponsors, strategic acquirers, and target company management
Discretion when handling nonpublic information and competitive intelligence

Nice To Haves

Willingness to work on a flexible per engagement basis without fixed hours or commitments

Responsibilities

Provide market intelligence on bolt on targets, competitive landscape, and valuation context within your subsector
Facilitate introductions to founders, operating principals, and senior executives in your existing network
Review confidential information memoranda and management presentations for sector specific operating fit and risk
Assess the durability of a target's customer contracts, safety and compliance record, capacity position, and equipment base as part of diligence
Distinguish between contracted revenue that renews and cyclical or spot revenue that evaporates when the market turns, and pressure test a target's revenue quality accordingly
Participate in PE sponsor and strategic acquirer pitches when your subsector and operating background are relevant
Provide operational due diligence input on target companies
Advise the Fireclay team on positioning and messaging for sponsor outreach and sourcing campaigns